Apple TV rumors weighed on cable companies, and Tesla said it has plans to ease drivers’ “range anxiety” -- this is your tech rewind of the week.
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Mere weeks after bumping AT&T (T) off the Dow Jones Industrial Average, Apple (AAPL) began trading Thursday on the blue chip board. And after reports swirled the iPhone maker plans to launch a web TV service this fall, Apple stock rallied. The California company is reportedly going to charge $20 to $40 a month to let you stream live TV to all your Apple devices, and grant you access to a bundle of about 25 networks.
How did the cable TV companies respond to the Apple TV talk? Shares of Time Warner Cable (TWC), Comcast (CMCSA) and Cablevision (CVC) all fell more than 1% on the initial news. Apple stock is up almost 2% for the week.
What Apple Watch? Tag Heuer, luxury group LVMH's biggest watch maker, and Intel are teaming up on a smartwatch that will use Google’s (GOOGL) Android capabilities. While the details on pricing and features are unclear, the watch is expected to come out in the fourth quarter and according to Tag Heuer’s CEO, it will be the first luxury smartwatch for Android.
Late in the week, Tesla (TSLA) outlined a set of updates aimed at easing “range anxiety” for drivers. The electric car maker unveiled an in-car app that will notify Model S drivers on when it’s time to recharge their batteries, as well as guide them to the nearest power station. And in about three months, Tesla will roll-out it’s automatic steering for Model S cars.
Meanwhile, Oracle (ORCL) posted flat third-quarter sales and slightly lower profit amid currency headwinds. The software maker also raised its quarterly dividend 25% and shares were mostly flat Friday.
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The mobile payment space just got a little more crowded: Facebook (FB) plans to let users transfer money to each other via its Messenger app. Upon logging on and after linking to their debit cards, users can tap or click on a dollar icon in a new chat window to send money to friends. The free feature is expected to debut in coming months. Facebook shares were up almost 2% Friday.
Shazam CPO Daniel Danker spoke with FOX Business’s Jo Ling Kent and discussed why the music discovery company is going physical with a brick-and-mortar presence.
While Lyft and Uber continue duking it out, the first rideshare service designed specifically for busy families, Shuddle, this week announced a $9.6 million Series A funding round. This latest round brings the total amount raised by Shuddle to $12 million. Shuddle CEO Nick Allen said in a statement, “We’re excited to use this capital to continue creating the best possible experience for both passengers and drivers.” The company also plans to use the funds toward their geographic expansion.
And with it’s latest, massive $367 million funding round, Pinterest’s valuation has jumped to a whopping $11 billion. The digital photo discovery company plans to use this round to fuel international growth, and according to Re/Code is working on a “buy” button, confirming future e-commerce plans.